UPDATE 1-Slim's Ideal says Panama asset seizure order unlawful

MEXICO CITY Nov 24 (Reuters) - Mexican billionaire Carlos
Slim's infrastructure firm Ideal on Monday said a
seizure order by a Panamanian court targeting some of its assets
was unlawful.

The order stemmed from a legal battle over the ownership of
a concession to operate the Bajo de Mina hydroelectric plant in
the Central American country.

The plant concession was first granted to Panamanian
businessman Julio Cesar Lisac in 2006, but authorities revoked
it and awarded it to Slim, newspaper La Estrella de Panama
reported.

A 2010 Supreme Court ruling in favor of Lisac was never
executed, the paper added.

Ideal said on Monday the seizure order failed to comply with
the law and did not specify the assets to be seized.

It added that Panama's government had taken the concession
from Lisac in 2012 and said it was still awaiting the decision
of an appeal process started by the company and the country's
public services authority ASEP.

La Estrella de Panama said the seizure order involved about
10 properties owned by Ideal.

A spokeswoman for the Supreme Court of Justice confirmed
that the Fifth Civil Circuit Court had issued a resolution in
the concession case but added that details would not be made
public until it had been executed.